29 episodes

The Backtable Innovation Podcast brings you the stories from physician entrepreneurs who are helping to drive healthcare forward through med tech innovation. Listen on BackTable.com or on the streaming platform of your choice. You can also visit www.BackTable.com to browse our open access, physician-catered knowledge center.

BackTable Innovation BackTable

    • Health & Fitness
    • 5.0 • 3 Ratings

The Backtable Innovation Podcast brings you the stories from physician entrepreneurs who are helping to drive healthcare forward through med tech innovation. Listen on BackTable.com or on the streaming platform of your choice. You can also visit www.BackTable.com to browse our open access, physician-catered knowledge center.

    Ep. 29 Artificial Intelligence & Imaging: Present and Future with Aidoc Founder Elad Walach

    Ep. 29 Artificial Intelligence & Imaging: Present and Future with Aidoc Founder Elad Walach

    Dr. Aaron Fritts interviews Aidoc cofounder Elad Walach about launching a company in the artificial intelligence (AI) space and applying AI in radiology imaging.

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    SHOW NOTES

    In this episode, our host Dr. Aaron Fritts interviews Aidoc founder Elad Walach about launching a company in the artificial intelligence (AI) space, applying AI in radiology imaging, and his vision to build an AI enterprise system for healthcare institutions.

    Elad begins by sharing the story of how he met Aidoc cofounders Michael Braginsky and Guy Reiner as roommates when they all served in the Israeli military. All three shared a passion for technology and desired to make a difference in the healthcare sphere. Through brainstorming, they identified a clinical need to process radiology data faster and help radiologists prioritize high risk findings. He emphasizes that the technology is not designed to address a single type of disease. Instead, it is a platform that has received regulatory clearance to detect many different diseases.

    When hiring other Aidoc team members, Elad describes his perspective on hiring based on potential, rather than experience. He seeks out “superstars” because he believes in their ability to learn and blossom within the company. Next, Elad recounts the difficult fundraising process that the company faced when AI was not widely known yet. He advises entrepreneurs to think of their company’s story as their “first sell,” and have a commitment to debrief, obtain feedback, and reiterate the pitch after every presentation.

    Finally, Elad shares his vision for the future of AI in healthcare. It is crucial that entrepreneurs display professionalism and responsible practices in order for healthcare systems to entrust them with patient data. On the clinical side, radiologists would benefit from AI exposure and education during their official training pathway. Finally, the growing number of AI healthcare companies will help progress the overall field, since each company can be a trailblazer in different areas such as regulatory standards and reimbursements.

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    RESOURCES

    Aidoc:
    https://www.aidoc.com/

    Your Vital Signs, On Camera (Pulse Camera):
    https://news.mit.edu/2010/pulse-camera-1004

    Deep Medicine by Eric Topol:
    https://www.amazon.com/Deep-Medicine-Artificial-Intelligence-Healthcare/dp/1541644638

    Play Bigger by Al Ramadan:
    https://www.amazon.com/Play-Bigger-Dreamers-Innovators-Dominate/dp/0062407619

    • 57 min
    Ep. 28 Slow Burn Physician Entrepreneur: Lessons Learned from Dr James Mitchell

    Ep. 28 Slow Burn Physician Entrepreneur: Lessons Learned from Dr James Mitchell

    Radiation oncologist Dr. James Mitchell joins the BackTable Innovation podcast to discuss the development and acquisition of his medical devices; first, an integrated needle/guidewire system called Redsmith, and then a smart vascular access port called Oncodisc.

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    SHOW NOTES

    In this episode, physician-entrepreneur and radiation oncologist Dr. James Mitchell joins our host Dr. Bryan Hartley to discuss the development and acquisition of his medical devices– first, an integrated needle/guidewire system called Redsmith, and then a smart vascular access port called Oncodisc.

    Dr. Mitchell first explains how he met his co-founder, interventional radiologist Andy Thoreson, while they were both practicing medicine at the Keesler Air Force base. They connected due to common interests in business and investing. Eventually, they began to discuss clinical needs that they saw in their everyday lives and potential devices to address them. To protect their medical device ideas, they filed IPs and addressed patents to a company, rather than themselves as individuals. Dr. Mitchell emphasizes that this method is highly favorable when there are multiple inventors of a device, since assigning the patent to a separate entity will prevent legal issues and de-risk the business for future acquirers. When forming a new company, Dr. Mitchell believes that good corporate governance is key. This involves asking fundamental questions about the business goals, location of incorporation, type of corporation, and fundraising strategies. Eventually, Drs. Mitchell and Thoreson launched Redsmith, which was purchased by BD. Due to external factors, the purchase took two years.

    Next, the co-founders embarked on a mission to develop Oncodisc, a port that would automatically notify doctors when cancer patients’ physiological signs indicated high risk for sepsis. Dr. Mitchell described a new mindset for this second product– He wanted to build a business out of this technology instead of selling it to a larger company. Taking a product through commercialization would allow him to have more influence over the final product and result in a larger impact on the healthcare system. Additionally, he wanted to explore applications of Oncodisc beyond cancer care, since ports are utilized in many chronic conditions such as end-stage renal disease and congestive heart failure. What started as a simple addition to chemotherapy ports became a larger digital health mission.

    Finally, Dr. Mitchell discusses the mechanics of his fundraising process. The seed round mainly included friends and colleagues who were clinicians, since they recognized the utility of Oncodisc. Having this network of investors also allowed the co-founders to obtain clinical advice during R&D. The subsequent Series A round presented different challenges, since Dr. Mitchell was presenting to investors from highly specialized business backgrounds, and little clinical expertise. He had to learn how to address extensive questions over regulatory strategy and effectively communicate his clinical ideas during his pitches. Dr. Mitchell ends the episode by advising entrepreneurs to expand their networks to include people of all different professions and valuable, diverse insights.

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    RESOURCES

    PAVmed:
    http://www.pavmed.com/

    Biomerics:
    https://biomerics.com/

    BD:
    https://www.bd.com/en-us

    HealthTech Capital:
    https://healthtechcapital.com/

    Society of Physician Entrepreneurs:
    https://sopenet.org/

    Innovator MD:
    https://www.innovatormd.com/

    UCSF Rosenman Institute:
    https://rosenmaninstitute.org/

    MedTech Innovator:
    https://medtechinnovator.org/

    • 1 hr 12 min
    Ep. 27 Physician Underdog with Dr. Navin Goyal

    Ep. 27 Physician Underdog with Dr. Navin Goyal

    Aaron Fritts talks with Dr. Navin Goyal about why he decided to leave clinical practice, co-founded LOUD Capital, and how he's helping physician entrepreneurs flip the script and leverage the underdog mentality to drive ideas and careers forward. 

    The CME experience for this Podcast is powered by CMEfy - click here to reflect and unlock credits & more: https://earnc.me/NGKuR9

    • 50 min
    Ep. 26 AI in Healthcare, Trusting Your Microwave, and Colonizing the Moon with Dr. Eric Eskioglu

    Ep. 26 AI in Healthcare, Trusting Your Microwave, and Colonizing the Moon with Dr. Eric Eskioglu

    Dr. Eric Eskioglu, neurosurgeon and Chief Medical Officer of Novant Health, tells us about how his organization stays forward-thinking in artificial intelligence (AI) developments.

    The CME experience for this Podcast is powered by CMEfy - click here to reflect and unlock credits & more: https://earnc.me/Vao1Gj

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    SHOW NOTES

    In this episode, our hosts interview Dr. Eric Eskioglu, neurosurgeon and Chief Medical Officer of Novant Health about how his organization stays forward-thinking in artificial intelligence (AI) developments and promising AI healthcare applications of the near future.

    Dr. Eskioglu describes his first career in aerospace engineering, which sparked his original interest in AI. He recognized the value of data analytics and how it could be used to plan out future scenarios. After making the shift towards medicine, Dr. Eskioglu found himself being drawn to translational research and neurosurgery.

    Today, he describes his role within Novant Health as an interpreter between physicians and administrators, and also a champion of behavioral economics and AI innovation within the health network. He emphasizes that focusing on improving quality and safety measures is the key to gaining organizational and funding support for AI projects. A large focus of Novant Health has been the use of AI to recognize and reduce non-beneficial variations in clinical practice between different providers.

    Next, we shift to discussing how AI can be used to equalize healthcare access across different communities. Dr. Eskioglu gives the example of Viz.ai, a stroke detection system that improves diagnosis and response team efficiency, no matter where the patient and medical team are located. (If you’re interested in hearing more about Viz.ai, check out Episode 7, in which we interview its founder, Dr. Chris Mansi!)

    Dr. Eskioglu also discusses how AI can help prevent physician burnout. For example, Aidoc is currently using image scrubbing to stratify ER images based on clinical severity, which effectively reduces anxiety and burnout for radiologists. He also mentions how natural language processing that automatically generates progress notes as physicians converse with patients. Furthermore, he speculates that AI will have the largest impact on family medicine, since this field has frequent patient contact and an abundance of patient data collected over time that can be used to glean patterns to guide clinical practice.

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    RESOURCES

    Novant Health:
    https://www.novanthealth.org/

    VIz.ai:
    https://www.viz.ai/

    Aidoc:
    https://www.aidoc.com/

    Nuance Natural Language Processing:
    https://www.nuance.com/about-us/ai-research.html

    SwipeSense:
    https://www.swipesense.com/

    JAMA Article, Physician Practice Pattern Variations in Common Clinical Scenarios Within 5 US Metropolitan Areas:
    https://jamanetwork.com/journals/jama-health-forum/fullarticle/2788513

    American Board of Artificial Intelligence in Medicine (ABAIM):
    https://abaim.org/

    Intelligence-Based Medicine by Dr. Anthony Chang:
    https://www.amazon.com/Intelligence-Based-Medicine-Artificial-Intelligence-Healthcare/dp/012816462X

    AI in Health by Tom Lawry:
    https://www.amazon.com/AI-Health-Leaders-Winning-Intelligent/dp/0367336847

    Deep Medicine by Dr. Eric Topol:
    https://www.amazon.com/Deep-Medicine-Artificial-Intelligence-Healthcare/dp/1541644638

    • 41 min
    Ep. 25 Next Level Stuff, the Exit: Part III of the Neuwave Story with Laura King and Dr. Fred Lee

    Ep. 25 Next Level Stuff, the Exit: Part III of the Neuwave Story with Laura King and Dr. Fred Lee

    To close our BackTable Innovation series on NeuWave, we invited Laura King and Dr. Fred Lee to speak about growing their medical device company through various stages, from Series A funding to acquisition by Johnson & Johnson.

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    EARN CME

    Reflect on how this Podcast applies to your day-to-day and earn AMA PRA Category 1 CMEs: https://earnc.me/iNQOK8

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    SHOW NOTES

    In this episode, our host Dr. Bryan Hartley interviews business leader Laura King and interventional radiologist Dr. Fred Lee about growing their medical device company, NeuWave through various stages, from Series A funding to acquisition by Johnson & Johnson. This is the final installment of a three-part series about the origin, rise, and acquisition of NeuWave.

    Ms. King recounts her story of joining NeuWave. While she was originally tasked with performing due diligence on behalf of investors, she found that her values and passions aligned with the company and eventually became NeuWave’s CEO. For her, the key pull factor was the company’s identity as a “platform opportunity,” since the microwave ablation device was initially used in the liver, but could also branch out and be applied to other organs and clinical scenarios. Ms. King speaks about the difference between incremental innovation and disruptive innovation. The former is more common in large established companies, while the latter is characteristic of the startup world. She credits her business knowledge to her history of working with large companies and incremental innovation in her past, which helped her in scaling up NeuWave’s disruptive innovation efforts.

    Dr. Lee brings up the importance of values alignment between clinical and business leadership in a startup. He shares conversations that the leaders had regarding patient safety in the first physician uses of the device. Ms. King highlights the need to listen to early adopters and integrate their feedback into improving the product; it is this effective response that will build trust and encourage clinicians to repurchase the device in the future.

    Finally, we discuss the acquisition process. Dr. Lee describes how venture capital investors brought not only funds, but more connections to the company. He compares the role of bankers in an acquisition to realtors in a property sale. They are both necessary to the sale of the asset and have experience fielding multiple offers from interested parties.

    Throughout the episode, the guests highlight their continued partnership in forming Elucent, a surgical navigation company, using the lessons learned from NeuWave.

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    RESOURCES

    Elucent Medical
    https://elucentmedical.com/

    NeuWave Microablation System:
    https://www.jnjmedtech.com/en-US/product-family/neuwave-microwave-ablation-systems

    Venture Investors:
    https://ventureinvestors.com/

    • 1 hr 13 min
    Ep. 24 Trials and Tribulations: Part II of the Neuwave Story with Dr. Dan van der Weide and Dr. Fred Lee

    Ep. 24 Trials and Tribulations: Part II of the Neuwave Story with Dr. Dan van der Weide and Dr. Fred Lee

    We talk with electrical engineering professor Dr. Dan van der Weide and interventional radiologist Dr. Fred Lee about the lessons they learned in the early stages of founding their microwave ablation device company, including challenges with early teams and equity.

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    EARN CME

    Reflect on how this Podcast applies to your day-to-day and earn AMA PRA Category 1 CMEs: https://earnc.me/OOv0RX

    ---

    SHOW NOTES

    In this episode, our host Dr. Bryan Hartley interviews electrical engineering professor Dr. Dan van der Weide and interventional radiologist Dr. Fred Lee about the lessons they learned in the early stages of founding their microwave ablation device company, including challenges with early teams and equity. This is the second installment of a three-part series about the origin, rise, and acquisition of NeuWave.

    The founders start by discussing the nature of their successful partnership and how each of them brought complementary perspectives to the company. On one hand, Dr. Lee has clinical experience that informs him about current medical devices and their limitations. Conversely, Dr. van der Weide has a broad-based understanding of energy and how it can be applied to medicine. Even after the acquisition of NeuWave, the two founders have continued to innovate and start subsequent new companies together.

    While the founders shared a common vision, they had early NeuWave experiences which taught them about team conflict. They share a salient lesson learned from hiring team members based on prior social connections instead of objective skill sets. Dr. Van der Weide warns against taking mental shortcuts and making assumptions about a person’s abilities, without first examining their experience in the startup world. He also gives advice on equity apportionment, saying that vesting schedules should be based on clear milestones, instead of a pre-set percentage.

    Finally, we discuss NeuWave’s early venture capital funding and the importance of choosing an investor that understands the vision and is willing to dedicate their honest effort to helping when obstacles arise.

    Stay tuned for the third installment!

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    RESOURCES

    Elucent Medical:
    https://elucentmedical.com/

    NeuWave Microablation System:
    https://www.jnjmedtech.com/en-US/product-family/neuwave-microwave-ablation-systems

    Wisconsin Alumni Research Foundation (WARF):
    https://www.warf.org/

    Venture Investors:
    https://ventureinvestors.com/

    • 1 hr 17 min

Customer Reviews

5.0 out of 5
3 Ratings

3 Ratings

Bret N . Wiechmann ,

Innovation

Gotta love the Julio Palmaz story!!!

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